Esquire Financial (ESQ) 10-Q 14 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 01, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Esquire Financial Holdings, Inc.
Entity Central Index Key	1,531,031
Trading Symbol	esq
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,312,410
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Cash and due from banks	$ 543	$ 437
Interest earning deposits	39,317	42,556
Total cash and cash equivalents	39,860	42,993
Securities available-for-sale, at fair value	97,302	92,645
Securities, restricted, at cost	1,849	1,649
Loans	307,418	278,578
Less: allowance for loan losses	(3,823)	(3,413)
Loans, net	303,595	275,165
Premises and equipment, net	2,720	2,767
Accrued interest receivable	1,696	1,541
Deferred tax asset, net	2,448	3,108
Other assets	6,331	4,965
Total assets	455,801	424,833
Deposits:
Demand	131,642	124,990
Savings, NOW and money market	217,081	221,843
Time	27,640	23,955
Total deposits	376,363	370,788
Secured borrowings	282	371
Accrued expenses and other liabilities	2,182	1,488
Total liabilities	378,827	372,647
Commitments and Contingencies
Stockholders' equity:
Preferred stock, par value $0.01; authorized 2,000,000 shares; issued and outstanding (non-voting) 66,985 at June 30, 2017 and December 31, 2016	1	1
Common stock, par value $0.01; authorized 15,000,000 shares; issued and outstanding 6,870,285 shares at June 30, 2017, and 5,002,950 shares at December 31, 2016	69	50
Additional paid-in capital	81,396	58,845
Retained deficit	(3,984)	(5,826)
Accumulated other comprehensive loss	(508)	(884)
Total stockholders' equity	76,974	52,186
Total liabilities and stockholders' equity	$ 455,801	$ 424,833

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued (non-voting)	66,985	66,985
Preferred stock, shares outstanding (non-voting)	66,985	66,985
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	6,870,285	5,002,950
Common stock, shares outstanding	6,870,285	5,002,950

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest income:
Loans	$ 4,062	$ 3,446	$ 7,889	$ 6,671
Securities	628	490	1,178	967
Interest earning deposits and other	66	34	121	66
Total interest income	4,756	3,970	9,188	7,704
Interest expense:
Savings, NOW and money market deposits	106	106	215	195
Time deposits	25	20	47	26
Borrowings	5	6	11	13
Total interest expense	136	132	273	234
Net interest income	4,620	3,838	8,915	7,470
Provision for loan losses	300	130	450	275
Net interest income after provision for loan losses	4,320	3,708	8,465	7,195
Non-interest income:
Customer related fees and service charges	528	249	894	477
Merchant processing income	831	793	1,670	1,546
Net gains on sales of available-for-sale securities				6
Total non-interest income	1,359	1,042	2,564	2,029
Non-interest expense:
Employee compensation and benefits	2,369	1,985	4,714	3,947
Occupancy and equipment, net	374	272	761	553
Professional and consulting services	516	499	905	912
FDIC assessment	42	31	84	81
Advertising and marketing	96	99	206	243
Travel and business relations	122	97	228	171
OCC assessments	34	28	63	54
Data processing	409	339	780	678
Other operating expenses	207	174	452	305
Total non-interest expense	4,169	3,524	8,193	6,944
Net income before income taxes	1,510	1,226	2,836	2,280
Income tax expense	483	478	994	889
Net income	$ 1,027	$ 748	$ 1,842	$ 1,391
Earnings per common share
Basic (in dollars per share)	$ 0.20	$ 0.15	$ 0.36	$ 0.27
Diluted (in dollars per share)	$ 0.20	$ 0.15	$ 0.36	$ 0.27

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 1,027	$ 748	$ 1,842	$ 1,391
Other comprehensive income:
Unrealized holding gains arising during the period on securities available for sale	440	505	623	2,201
Reclassification adjustment for net gains included in net income				(6)
Tax effect	(169)	(197)	(247)	(860)
Total other comprehensive income	271	308	376	1,335
Total comprehensive income	$ 1,298	$ 1,056	$ 2,218	$ 2,726

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - 6 months ended Jun. 30, 2017 - USD ($) $ in Thousands	Preferred stock	Common stock	Additional paid in capital	Retained deficit	Accumulated other comprehensive loss	Total
Balance at Dec. 31, 2016	$ 1	$ 50	$ 58,845	$ (5,826)	$ (884)	$ 52,186
Balance (in shares) at Dec. 31, 2016	66,985	5,002,950
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				1,842		1,842
Other comprehensive income					376	376
Exercise of stock options, net of repurchases		$ 1	539			540
Exercise of stock options, net of repurchases (in shares)		67,255
Issuance of common stock, net of issuance costs		$ 18	21,724			$ 21,742
Issuance of common stock, net of issuance costs (in shares)		1,800,080				1,800,000
Options expense			288			$ 288
Balance at Jun. 30, 2017	$ 1	$ 69	$ 81,396	$ (3,984)	$ (508)	$ 76,974
Balance (in shares) at Jun. 30, 2017	66,985	6,870,285

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income	$ 1,842	$ 1,391
Adjustments to reconcile net income to Net cash used in operating activities:
Provision for loan losses	450	275
Net security gains on available-for-sale securities		(6)
Depreciation	204	75
Stock options expense	288	152
Net amortization:
Securities	196	124
Loans	281	322
Changes in other assets and liabilities:
Accrued interest receivable	(155)	(229)
Deferred tax asset	413	(1,052)
Other assets	(1,366)	(670)
Accrued expenses and other liabilities	694	321
Net cash provided by operating activities	2,847	703
Cash flows from investing activities:
Net change in loans	(29,161)	(29,006)
Purchases of securities available for sale	(15,398)	(5,039)
Proceeds of sales of securities available for sale		4,068
Principal repayments on securities available for sale	11,168	5,935
Purchases of securities, restricted	(200)	(168)
Other assets		1,250
Purchases of premises and equipment	(157)	(1,347)
Net cash used in investing activities	(33,748)	(24,307)
Cash flows from financing activities:
Net increase in deposits	5,575	31,800
Decrease in secured borrowings	(89)	(5)
Exercise of stock options	540
Proceeds from issuance of common stock, net of issuance costs	21,742	1
Net cash provided by financing activities	27,768	31,796
(Decrease) increase in cash and cash equivalents	(3,133)	8,192
Cash and cash equivalents at beginning of the period	42,993	33,154
Cash and cash equivalents at end of the period	39,860	41,346
Cash paid during the period for:
Interest	273	234
Income taxes	$ 868	$ 41

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	NOTE 1 — Basis of Presentation The interim consolidated financial statements include the accounts of Esquire Financial Holdings, Inc. and its wholly owned subsidiary, Esquire Bank, N.A. These entities are collectively referred to as “the Company.” All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial information. December 31, 2016 information has been derived from the Company’s audited financial statements for the years ended December 31, 2016 and 2015 included in our registration statement on Form S-1 filed with the Securities and Exchange Commission (“SEC”). In the opinion of management, the interim statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis and all such adjustments are recurring in nature. These financial statements and the accompanying notes should be read in conjunction with the Company’s audited financial statements for the years ended December 31, 2016 and 2015 included in our registration statement on Form S-1 filed with SEC. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 or any other period. Initial Public Offering On June 30, 2017, we completed our initial public offering (“IPO”) and sold 1,800,000 shares of common stock. We received aggregate net proceeds of approximately $21,741, after deducting underwriting discount and other offering related expenses. Subsequent Events The Bank has evaluated subsequent events for recognition and disclosure through the date of issuance (also refer to Note 8 – Subsequent Events) Secured Borrowing The Company had a secured borrowing of $282 and $371 as of June 30, 2017 and December 31, 2016, respectively, relating to certain loan participations sold by the Company that did not qualify for sales treatment. Preferred Stock The Series B 0.00% Non-Voting preferred stock does not have a maturity date and is not convertible by the holder, but is convertible on a one for one basis into shares of common stock by us under certain circumstances. In addition, the preferred stock does not have a liquidation preference. Preferred shares have equal rights to receive dividends when dividends are declared on common stock, and thus are considered participating securities. Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are now such matters that will have a material effect on the consolidated financial statements. New Accounting Pronouncements Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606)” implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In August 2016, the (Financial Accounting Standards Board FASB) deferred the effective date of the ASU by one year which means ASU 2014-09 will be effective for the Company on January 1, 2018. Management has identified the revenue streams that are in scope and is in process of evaluating them to determine the impact the ASU could have on the Company’s operating results or financial condition. On January 5, 2016, the FASB issued ASU 2016-01, “Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (the ASU). Under this ASU, the current GAAP model is changed in the areas of accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The ASU will be effective for public business entities in beginning after December 15, 2017, including interim periods within those fiscal years. Adoption of this standard is not expected to have a material effect on the Company’s operating results or financial condition. On February 25, 2016, the FASB completed its Leases project by issuing ASU No. 2017-02, “Leases (Topic 842).” The new guidance affects any organization that enters into a lease, or sublease, with some specified exemptions. Under the new guidance, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP, which requires only capital leases to be recognized on the balance sheet, the new ASU will require both types of leases to be recognized on the balance sheet. The ASU will also require expanded disclosures and will take effect for fiscal years beginning after December 15, 2018, and for interim periods within fiscal years. The Company is currently evaluating the impact of the ASU on its financial condition and results of operations. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): “Improvements to Employee Share-Based Payment Accounting.” This update includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. For public companies, the amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Adoption of this standard in the first quarter of 2017 did not have a material effect on the Company’s operating results or financial condition. On June 16, 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (the ASU). This ASU replaces the incurred loss model with an expected loss model, referred to as “current expected credit loss” (CECL) model. It will significantly change estimates for credit losses related to financial assets measured at amortized cost, including loans receivable, held-to-maturity (HTM) debt securities and certain other contracts. This ASU will be effective for the Company in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently gathering data and building a roadmap for the implementation of the standard.

Securities

Securities	6 Months Ended
	Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Securities	NOTE 2 — Securities Available-for-Sale Securities The amortized cost, gross unrealized gains and losses and estimated fair value of securities available for sale were as follows: Amortized Gross Gross Fair Value June 30, 2017 Mortgage-backed securities - agency $ 15,345 $ 17 $ (256 ) $ 15,106 Collateralized mortgage obligations (CMO's) - agency 82,783 171 (758 ) 82,196 Total available-for-sale $ 98,128 $ 188 $ (1,014 ) $ 97,302 December 31, 2016 Mortgage-backed securities - agency $ 16,417 $ 12 $ (417 ) $ 16,012 Collateralized mortgage obligations (CMO's) - agency 77,677 56 (1,100 ) 76,633 Total available-for-sale $ 94,094 $ 68 $ (1,517 ) $ 92,645 The amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. We have no securities due at a single maturity. Securities not due at a single maturity date are shown below. June 30, 2017 Amortized Cost Fair Value Mortgage-backed securities - agency $ 15,345 $ 15,106 CMO's - agency 82,783 82,196 Total $ 98,128 $ 97,302 Mortgage-backed securities include residential pass-through certificates guaranteed by FHLMC, FNMA, or GNMA and the CMO’s are backed by government agency pass-through certificates. The 2017 and 2016 pass-through certificates are fixed rate instruments. CMO’s, by virtue of the underlying residential collateral or structure, are fixed rate current pay sequentials or planned amortization classes (PAC’s). When purchasing investment securities, the Company’s overall interest-rate risk profile is considered as well as the adequacy of expected returns relative to risks assumed, including prepayments. In managing the investment securities portfolio, management occasionally sells investment securities in response to, or in anticipation of, changes in interest rates and spreads, actual or anticipated prepayments, liquidity needs and credit risk associated with a particular security. The proceeds from sales and calls of securities and the associated gains and losses are listed below for the periods indicated: For the three months ended, For the six months ended, June 30, June 30, 2017 2016 2017 2016 Proceeds $ - $ - $ - $ 4,068 Gross gains - - - 6 Gross losses - - - - The tax provision related to the realized gain was $2 for the six months ended 2016. At June 30, 2017, securities having a fair value of $82,196 were pledged to the Federal Home Loan Bank of New York (FHLB) for borrowing capacity totaling $78,132. At December 31, 2016, securities having a fair value of approximately $76,633 were pledged to the FHLB for borrowing capacity totaling $72,837. At June 30, 2017 and December 31, 2016, the Company had no outstanding FHLB advances. At June 30, 2017, securities having a fair value of $15,106 were pledged to the Federal Reserve Bank of New York (FRB) for borrowing capacity totaling $14,844. At December 31, 2016, securities having a fair value of approximately $16,012 were pledged to the FRB for borrowing capacity totaling $15,580. At June 30, 2017 and December 31, 2016, the Company had no outstanding FRB borrowings. The following table provides the gross unrealized losses and fair value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of: Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross June 30, 2017 Mortgage-backed securities - agency $ 13,209 $ (256 ) $ - $ - $ 13,209 $ (256 ) CMO's - agency 45,331 (580 ) 9,641 (178 ) 54,972 (758 ) Total temporarily impaired securities $ 58,540 $ (836 ) $ 9,641 $ (178 ) $ 68,181 $ (1,014 ) December 31, 2016 Mortgage-backed securities - agency $ 13,936 $ (417 ) $ - $ - $ 13,936 $ (417 ) CMO's - agency 50,269 (859 ) 5,973 (241 ) 56,242 (1,100 ) Total temporarily impaired securities $ 64,205 $ (1,276 ) $ 5,973 $ (241 ) $ 70,178 $ (1,517 ) Management reviews the investment portfolio on a quarterly basis to determine the cause, magnitude and duration of declines in the fair value of each security. In estimating other-than-temporary impairment (OTTI), management considers many factors including: (1) the length of time and extent that fair value has been less than cost, (2) the financial condition and near term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the security or more likely than not will be required to sell the security before its anticipated recovery. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: (1) OTTI related to credit loss, which must be recognized in the income statement and (2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. The assessment of whether any other than temporary decline exists may involve a high degree of subjectivity and judgment and is based on the information available to management at a point in time. Management evaluates securities for OTTI at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. At June 30, 2017, securities in unrealized loss positions were issuances from government sponsored entities. Due to the decline in fair value attributable to changes in interest rates, not credit quality and because the Company does not have the intent to sell the securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider the securities to be other-than-temporarily impaired at June 30, 2017. No impairment charges were recorded for the three and six months ended June 30, 2017 and 2016.

Loans

Loans	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Loans	NOTE 3 — Loans The composition of loans by class is summarized as follows: June 30, 2017 % of December 31, 2016 % of 1-4 family residential $ 48,470 16 % $ 49,597 18 % Commercial 118,980 39 % 106,064 38 % Multifamily 91,977 30 % 83,410 30 % Commercial real estate 21,089 7 % 22,198 8 % Construction 4,332 1 % 5,610 2 % Consumer 21,469 7 % 10,571 4 % Total Loans 306,317 100 % 277,450 100 % Deferred costs and unearned premiums, net 1,101 1,128 Allowance for loan losses (3,823 ) (3,413 ) Net loans $ 303,595 $ 275,165 The following tables present the activity in the allowance for loan losses by class for the three months ending June 30, 2017 and 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total June 30, 2017 Allowance for loan losses: Beginning balance $ 350 $ 2,039 $ 669 $ 227 $ 102 $ 136 $ 3,523 Provision (credit) for loan losses 8 115 (5 ) (1 ) 7 176 300 Recoveries - - - - - - - Loans charged-off - - - - - - - Total ending allowance balance $ 358 $ 2,154 $ 664 $ 226 $ 109 $ 312 $ 3,823 June 30, 2016 Allowance for loan losses: Beginning balance $ 221 $ 1,622 $ 554 $ 231 $ 140 $ 201 $ 2,969 Provision (credit) for loan losses 98 112 (2 ) (13 ) 24 (89 ) 130 Recoveries - 1 - - - - 1 Loans charged-off - - - - - - - Total ending allowance balance $ 319 $ 1,735 $ 552 $ 218 $ 164 $ 112 $ 3,100 The following tables present the activity in the allowance for loan losses by class for the six months ending June 30, 2017 and 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total June 30, 2017 Allowance for loan losses: Beginning balance $ 360 $ 1,934 $ 621 $ 238 $ 141 $ 119 $ 3,413 Provision (credit) for loan losses (2 ) 220 43 (12 ) (32 ) 233 450 Recoveries - - - - - - - Loans charged-off - - - - - (40 ) (40 ) Total ending allowance balance $ 358 $ 2,154 $ 664 $ 226 $ 109 $ 312 $ 3,823 June 30, 2016 Allowance for loan losses: Beginning balance $ 213 $ 1,536 $ 533 $ 230 $ 134 $ 153 $ 2,799 Provision (credit) for loan losses 106 173 19 (12 ) 30 (41 ) 275 Recoveries - 26 - - - - 26 Loans charged-off - - - - - - - Total ending allowance balance $ 319 $ 1,735 $ 552 $ 218 $ 164 $ 112 $ 3,100 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by class and based on impairment method as of June 30, 2017 and December 31, 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total June 30, 2017 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 358 2,154 664 226 109 312 3,823 Total ending allowance balance $ 358 $ 2,154 $ 664 $ 226 $ 109 $ 312 $ 3,823 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total Loans: Loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Loans collectively evaluated for impairment 48,470 118,980 91,977 21,089 4,332 21,469 306,317 Total ending loans balance $ 48,470 $ 118,980 $ 91,977 $ 21,089 $ 4,332 $ 21,469 $ 306,317 Recorded investment is not adjusted for accrued interest, deferred costs, and unearned premiums due to immateriality. 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total December 31, 2016 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 360 1,934 621 238 141 119 3,413 Total ending allowance balance $ 360 $ 1,934 $ 621 $ 238 $ 141 $ 119 $ 3,413 Loans: Loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Loans collectively evaluated for impairment 49,597 106,064 83,410 22,198 5,610 10,571 277,450 Total ending loans balance $ 49,597 $ 106,064 $ 83,410 $ 22,198 $ 5,610 $ 10,571 $ 277,450 Non-Performing Loans Non-performing loans include loans 90 days past due and still accruing and non-accrual loans. At June 30, 2017 and December 31, 2016, the Company did not have any non-performing loans. The following tables present the aging of the recorded investment in past due loans by class of loans as of June 30, 2017 and December 31, 2016: 30-59 Pas t Due 60-89 Past Due Greater Past Due Total Past Due Loans Not Past Due Total June 30, 2017 1-4 family residential $ - $ - $ - $ - $ 48,470 $ 48,470 Commercial - - - - 118,980 118,980 Multifamily - - - - 91,977 91,977 Commercial real estate - - - - 21,089 21,089 Construction - - - - 4,332 4,332 Consumer - - - - 21,469 21,469 Total $ - $ - $ - $ - $ 306,317 $ 306,317 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Loans Not Past Due Total December 31, 2016 1-4 family residential $ 203 $ - $ - $ 203 $ 49,394 $ 49,597 Commercial - - - - 106,064 106,064 Multifamily - - - - 83,410 83,410 Commercial real estate - - - - 22,198 22,198 Construction - - - - 5,610 5,610 Consumer - - - - 10,571 10,571 Total $ 203 $ - $ - $ 203 $ 277,247 $ 277,450 Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed whenever a credit is extended, renewed or modified, or when an observable event occurs indicating a potential decline in credit quality, and no less than annually for large balance loans. The Company uses the following definitions for risk ratings: Special Mention Substandard Doubtful the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Pass Special Mention Substandard Doubtful June 30, 2017 1-4 family residential $ 48,470 $ - $ - $ - Commercial 118,085 895 - - Multifamily 91,977 - - - Commercial real estate 21,089 - - - Construction 4,332 - - - Consumer 21,469 - - - Total $ 305,422 $ 895 $ - $ - Pass Special Mention Substandard Doubtful December 31, 2016 1-4 family residential $ 49,597 $ - $ - $ - Commercial 105,777 287 - - Multifamily 83,410 - - - Commercial real estate 22,198 - - - Construction 5,610 - - - Consumer 10,571 - - - Total $ 277,163 $ 287 $ - $ - The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For residential and consumer loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The Company has no loans identified as troubled debt restructurings at June 30, 2017 and December 31, 2016. Furthermore, there were no loan modifications during the three and six months ended June 30, 2017 and 2016 that were troubled debt restructurings. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy.

Share-Based Payment Plans

Share-Based Payment Plans	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Payment Plans	NOTE 4 — Share-Based Payment Plans Stock Option Plan The Company issues incentive and non-statutory stock options (“options”) to certain employees and directors pursuant to their equity incentive plans, which have been approved by the stockholders. Options to purchase common stock are recommended by the Compensation Committee of the Board of Directors, which are then approved by the full Board. At June 30, 2017, there are options outstanding from two plans, the 2007 Stock Option Plan (“the 2007 Plan”) and the 2011 Stock Compensation Plan (“the 2011 Plan”). The 2007 Plan allowed for a maximum of 270,000 shares of common stock to be issued. The 2007 Plan expired in May of 2017. The 2011 Plan allows for 754,607 shares to be issued of which 750,545 have been issued as of June 30, 2017. Under the stock option plans, options are granted with an exercise price equal to the fair value of the Company’s stock at the date of the grant. Options granted vest on five annual installments (20% per annum) and have ten year contractual terms. All options provide for accelerated vesting upon a change in control (as defined in the two plans). Stock options exercised result in the issuance of new shares. The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model that uses the assumptions noted in the table below. Expected volatilities are based on peer volatility. The Company uses peer data to estimate option exercise and post-vesting termination behavior. The expected term of options granted is based on peer data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. There were no stock options granted during the three and six months ended June 30, 2017. The fair value of options granted during the three and six months ended June 30, 2016 was determined using the following weighted-average assumptions as of grant date: 2016 Risk-Free Interest Rate 1.62 % Expected Term 84 months Expected Stock Price Volatility 23.4 % Dividend Yield 0.00 % The weighted average fair value of options granted was $3.59 for the three and six months ended June 30, 2016. The following table presents a summary of the activity related to options as of June 30, 2017: Weighted Weighted Average Average Remaining Exercise Contractual Options Price Life (Years) June 30, 2017 Outstanding at beginning of year 1,024,045 $ 12.13 Granted - - Exercised 92,500 10.00 Forfeited 11,000 11.36 Outstanding at period end 920,545 $ 12.35 7.56 Vested or expected to vest 920,545 $ 12.35 7.56 Exercisable at period end 242,315 $ 11.93 4.56 The Company recognized compensation expense related to options of $151 and $76 for the three months ended June 30, 2017 and 2016, respectively. The Company recognized compensation expense related to options of $288 and $152 for the six months ended June 30, 2017 and 2016, respectively. At June 30, 2017, unrecognized compensation cost related to non-vested options was approximately $1,876 and is expected to be recognized over a weighted average period of 3.58 years. The intrinsic value for outstanding options and for options vested or expected to vest was $2,348 and $744 for exercisable options at June 30, 2017. The tax benefit for the three and six months ended June 30, 2017 related to stock option exercises was $106. There were no stock options exercised for the three and six months ended June 30, 2016.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2017
Earnings per Share
Earnings per Share	NOTE 5 — Earnings per Share The two-class method is used in the calculation of basic and diluted earnings per share. Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to participation rights in undistributed earnings. Our preferred shares are considered participating securities. The factors used in the earnings per share computation follow: Three months ended Six months ended At June 30, At June 30, 2017 2016 2017 2016 Basic Net income available to common shareholders $ 1,027 $ 748 $ 1,842 $ 1,391 Less: Earnings allocated to preferred stock 13 23 24 43 Net income allocated to common shareholders $ 1,014 $ 725 $ 1,818 $ 1,348 Weighted average common shares outstanding 5,075,019 4,915,878 5,039,197 4,913,874 Basic earnings per common share $ 0.20 $ 0.15 $ 0.36 $ 0.27 Diluted Net income allocated to common shareholders for basic earnings per share $ 1,014 $ 725 $ 1,818 $ 1,348 Weighted average shares outstanding for basic earnings per common share 5,075,019 4,915,878 5,039,197 4,913,874 Add: Dilutive effects of assumed exercises of stock options 25,589 30,550 30,202 30,550 Average shares and dilutive potential common shares 5,100,608 4,946,428 5,069,399 4,944,424 Diluted earnings per common share $ 0.20 $ 0.15 $ 0.36 $ 0.27 Stock options not considered in computing diluted earnings per share because they were anti-dilutive 775,425 545,295 779,425 545,295

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 6 — Fair Value Measurements Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values. Level 1 Level 2 Level 3 For available-for-sale securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements Using Quoted Prices In Significant Significant (Level 1) (Level 2) (Level 3) June 30, 2017 Assets Available-for-sale securities Mortgage-backed securities - agency $ - $ 15,106 $ - CMO's - agency - $ 82,196 - Total $ - $ 97,302 $ - December 31, 2016 Assets Available-for-sale securities Mortgage-backed securities - agency $ - $ 16,012 $ - CMO's - agency - 76,633 - Total $ - $ 92,645 $ - There were no transfers between Level 1 and Level 2 during the three and six months ended June 30, 2017 and 2016. There were no assets measured on a non-recurring basis as of June 30, 2017 and December 31, 2016. Estimated Fair Value of Financial Instruments Fair value estimates are made at specific points in time and are based on existing on-and off-balance sheet financial instruments. Such estimates are generally subjective in nature and dependent upon a number of significant assumptions associated with each financial instrument or group of financial instruments, including estimates of discount rates, risks associated with specific financial instruments, estimates of future cash flows, and relevant available market information. Changes in assumptions could significantly affect the estimates. In addition, fair value estimates do not reflect the value of anticipated future business, premiums or discounts that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, or the tax consequences of realizing gains or losses on the sale of financial instruments. The Company used the following method and assumptions in estimating the fair value of its financial instruments: Cash and Due from Banks and Interest Earning Deposits Securities Available-for-Sale Securities, Restricted Loans Accrued Interest Receivable and Payable Deposits Secured Borrowings Off-Balance-Sheet Liabilities The following tables presents the carrying amounts and fair values of the Company’s financial instruments: Fair Value Measurement at June 30, 2017, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total Financial Assets: Cash and due from banks $ 543 $ 543 $ - $ - $ 543 Interest earning deposits 39,317 - 39,317 - 39,317 Securities available for sale 97,302 - 97,302 - 97,302 Securities, restricted 1,849 N/A N/A N/A N/A Loans, net of allowance 303,595 - - 304,333 304,333 Accrued interest receivable 1,696 - 214 1,482 1,696 Financial Liabilities: Time deposits 27,640 - 27,563 - 27,563 Demand and other deposits 348,723 348,723 - - 348,723 Secured borrowings 282 - 282 - 282 Accrued interest payable 3 - 3 - 3 Fair Value Measurement at December 31, 2016, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total Financial Assets: Cash and due from banks $ 437 $ 437 $ - $ - $ 437 Interest earning deposits 42,556 - 42,556 - 42,556 Securities available for sale 92,645 - 92,645 - 92,645 Securities, restricted 1,649 N/A N/A N/A N/A Loans, net of allowance 275,165 - - 277,620 277,620 Accrued interest receivable 1,541 - 201 1,340 1,541 Financial Liabilities: Time deposits 23,955 - 23,930 - 23,930 Demand and other deposits 346,833 346,833 - - 346,833 Secured borrowings 371 - 371 - 371 Accrued interest payable 3 - 3 - 3

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	6 Months Ended
	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Accumulated Other Comprehensive (Loss) Income	NOTE 7 — Accumulated Other Comprehensive (Loss) Income The following is changes in accumulated other comprehensive (loss) income by component, net of tax for the six months ending June 30, 2017 and 2016: Three months ended Six months ended At June 30, At June 30, 2017 2016 2017 2016 Unrealized Gains on Available for Sale Securities Beginning balance $ (779 ) $ 593 $ (884 ) $ (434 ) Other comprehensive income before reclassifications 271 308 376 1,339 Amounts reclassified from accumulated other comprehensive income - - - (4 ) Net current period other comprehensive income 271 308 376 1,335 Ending Balance $ (508 ) $ 901 $ (508 ) $ 901 The following represents the reclassifications out of accumulated other comprehensive loss for the three and six months ended June 30, 2017, and 2016: Three months ended Six months ended At June 30, At June 30, 2017 2016 2017 2016 Realized gain on securities sales $ - $ - $ - $ 6 Income tax expense - - - (2 ) Total reclassifications, net of tax $ - $ - $ - $ 4

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	NOTE 8 — Subsequent Events On July 20, 2017, the Company sold 354,580 additional shares of common stock at the public offering price of $14.00 per share pursuant to the underwriter’s overallotment option. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses with the overallotment option, were approximately $4,600. The aggregate net proceeds to Esquire from its IPO, including the overallotment shares, after deducting the underwriting discount and estimated offering expenses were approximately $26,300. On July 31, 2017 the Company and the preferred shareholder agreed to perform an exchange of 66,985 shares of Series B Non-Voting Preferred Shares for 66,985 common shares, par value $0.01. As of July 31, 2017, there are no preferred shares outstanding.

Accounting Policy (Policies)

Accounting Policy (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The interim consolidated financial statements include the accounts of Esquire Financial Holdings, Inc. and its wholly owned subsidiary, Esquire Bank, N.A. These entities are collectively referred to as “the Company.” All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial information. December 31, 2016 information has been derived from the Company’s audited financial statements for the years ended December 31, 2016 and 2015 included in our registration statement on Form S-1 filed with the Securities and Exchange Commission (“SEC”). In the opinion of management, the interim statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis and all such adjustments are recurring in nature. These financial statements and the accompanying notes should be read in conjunction with the Company’s audited financial statements for the years ended December 31, 2016 and 2015 included in our registration statement on Form S-1 filed with SEC. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 or any other period.
Subsequent Events	Subsequent Events The Bank has evaluated subsequent events for recognition and disclosure through the date of issuance (also refer to Note 8 – Subsequent Events)
Secured Borrowing	Secured Borrowing The Company had a secured borrowing of $282 and $371 as of June 30, 2017 and December 31, 2016, respectively, relating to certain loan participations sold by the Company that did not qualify for sales treatment.
Preferred Stock	Preferred Stock The Series B 0.00% Non-Voting preferred stock does not have a maturity date and is not convertible by the holder, but is convertible on a one for one basis into shares of common stock by us under certain circumstances. In addition, the preferred stock does not have a liquidation preference. Preferred shares have equal rights to receive dividends when dividends are declared on common stock, and thus are considered participating securities.
Loss Contingencies	Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are now such matters that will have a material effect on the consolidated financial statements.
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606)” implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In August 2016, the (Financial Accounting Standards Board FASB) deferred the effective date of the ASU by one year which means ASU 2014-09 will be effective for the Company on January 1, 2018. Management has identified the revenue streams that are in scope and is in process of evaluating them to determine the impact the ASU could have on the Company’s operating results or financial condition. On January 5, 2016, the FASB issued ASU 2016-01, “Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (the ASU). Under this ASU, the current GAAP model is changed in the areas of accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The ASU will be effective for public business entities in beginning after December 15, 2017, including interim periods within those fiscal years. Adoption of this standard is not expected to have a material effect on the Company’s operating results or financial condition. On February 25, 2016, the FASB completed its Leases project by issuing ASU No. 2017-02, “Leases (Topic 842).” The new guidance affects any organization that enters into a lease, or sublease, with some specified exemptions. Under the new guidance, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP, which requires only capital leases to be recognized on the balance sheet, the new ASU will require both types of leases to be recognized on the balance sheet. The ASU will also require expanded disclosures and will take effect for fiscal years beginning after December 15, 2018, and for interim periods within fiscal years. The Company is currently evaluating the impact of the ASU on its financial condition and results of operations. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): “Improvements to Employee Share-Based Payment Accounting.” This update includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. For public companies, the amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Adoption of this standard in the first quarter of 2017 did not have a material effect on the Company’s operating results or financial condition. On June 16, 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (the ASU). This ASU replaces the incurred loss model with an expected loss model, referred to as “current expected credit loss” (CECL) model. It will significantly change estimates for credit losses related to financial assets measured at amortized cost, including loans receivable, held-to-maturity (HTM) debt securities and certain other contracts. This ASU will be effective for the Company in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently gathering data and building a roadmap for the implementation of the standard.

Securities (Tables)

Securities (Tables)	6 Months Ended
	Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost, gross unrealized gains and losses and estimated fair value of securities available for sale	Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2017 Mortgage-backed securities - agency $ 15,345 $ 17 $ (256 ) $ 15,106 Collateralized mortgage obligations (CMO's) - agency 82,783 171 (758 ) 82,196 Total available-for-sale $ 98,128 $ 188 $ (1,014 ) $ 97,302 December 31, 2016 Mortgage-backed securities - agency $ 16,417 $ 12 $ (417 ) $ 16,012 Collateralized mortgage obligations (CMO's) - agency 77,677 56 (1,100 ) 76,633 Total available-for-sale $ 94,094 $ 68 $ (1,517 ) $ 92,645
Schedule of amortized cost and fair value of debt securities by contractual maturity	June 30, 2017 Amortized Cost Fair Value Mortgage-backed securities - agency $ 15,345 $ 15,106 CMO's - agency 82,783 82,196 Total $ 98,128 $ 97,302
Schedule of proceeds from sales and calls of securities and the associated gains and losses	For the three months ended, For the six months ended, June 30, June 30, 2017 2016 2017 2016 Proceeds $ - $ - $ - $ 4,068 Gross gains - - - 6 Gross losses - - - -
Schedule of gross unrealized losses and fair value, securities in continuous unrealized loss position	Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross June 30, 2017 Mortgage-backed securities - agency $ 13,209 $ (256 ) $ - $ - $ 13,209 $ (256 ) CMO's - agency 45,331 (580 ) 9,641 (178 ) 54,972 (758 ) Total temporarily impaired securities $ 58,540 $ (836 ) $ 9,641 $ (178 ) $ 68,181 $ (1,014 ) December 31, 2016 Mortgage-backed securities - agency $ 13,936 $ (417 ) $ - $ - $ 13,936 $ (417 ) CMO's - agency 50,269 (859 ) 5,973 (241 ) 56,242 (1,100 ) Total temporarily impaired securities $ 64,205 $ (1,276 ) $ 5,973 $ (241 ) $ 70,178 $ (1,517 )

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Schedule of composition of loans	June 30, 2017 % of December 31, 2016 % of 1-4 family residential $ 48,470 16 % $ 49,597 18 % Commercial 118,980 39 % 106,064 38 % Multifamily 91,977 30 % 83,410 30 % Commercial real estate 21,089 7 % 22,198 8 % Construction 4,332 1 % 5,610 2 % Consumer 21,469 7 % 10,571 4 % Total Loans 306,317 100 % 277,450 100 % Deferred costs and unearned premiums, net 1,101 1,128 Allowance for loan losses (3,823 ) (3,413 ) Net loans $ 303,595 $ 275,165
Schedule of activity in allowance for loan losses	The following tables present the activity in the allowance for loan losses by class for the three months ending June 30, 2017 and 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total June 30, 2017 Allowance for loan losses: Beginning balance $ 350 $ 2,039 $ 669 $ 227 $ 102 $ 136 $ 3,523 Provision (credit) for loan losses 8 115 (5 ) (1 ) 7 176 300 Recoveries - - - - - - - Loans charged-off - - - - - - - Total ending allowance balance $ 358 $ 2,154 $ 664 $ 226 $ 109 $ 312 $ 3,823 June 30, 2016 Allowance for loan losses: Beginning balance $ 221 $ 1,622 $ 554 $ 231 $ 140 $ 201 $ 2,969 Provision (credit) for loan losses 98 112 (2 ) (13 ) 24 (89 ) 130 Recoveries - 1 - - - - 1 Loans charged-off - - - - - - - Total ending allowance balance $ 319 $ 1,735 $ 552 $ 218 $ 164 $ 112 $ 3,100 The following tables present the activity in the allowance for loan losses by class for the six months ending June 30, 2017 and 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total June 30, 2017 Allowance for loan losses: Beginning balance $ 360 $ 1,934 $ 621 $ 238 $ 141 $ 119 $ 3,413 Provision (credit) for loan losses (2 ) 220 43 (12 ) (32 ) 233 450 Recoveries - - - - - - - Loans charged-off - - - - - (40 ) (40 ) Total ending allowance balance $ 358 $ 2,154 $ 664 $ 226 $ 109 $ 312 $ 3,823 June 30, 2016 Allowance for loan losses: Beginning balance $ 213 $ 1,536 $ 533 $ 230 $ 134 $ 153 $ 2,799 Provision (credit) for loan losses 106 173 19 (12 ) 30 (41 ) 275 Recoveries - 26 - - - - 26 Loans charged-off - - - - - - - Total ending allowance balance $ 319 $ 1,735 $ 552 $ 218 $ 164 $ 112 $ 3,100 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by class and based on impairment method as of June 30, 2017 and December 31, 2016: 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total June 30, 2017 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 358 2,154 664 226 109 312 3,823 Total ending allowance balance $ 358 $ 2,154 $ 664 $ 226 $ 109 $ 312 $ 3,823 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total Loans: Loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Loans collectively evaluated for impairment 48,470 118,980 91,977 21,089 4,332 21,469 306,317 Total ending loans balance $ 48,470 $ 118,980 $ 91,977 $ 21,089 $ 4,332 $ 21,469 $ 306,317 1-4 Family Commercial Residential Commercial Multifamily Real Estate Construction Consumer Total December 31, 2016 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 360 1,934 621 238 141 119 3,413 Total ending allowance balance $ 360 $ 1,934 $ 621 $ 238 $ 141 $ 119 $ 3,413 Loans: Loans individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Loans collectively evaluated for impairment 49,597 106,064 83,410 22,198 5,610 10,571 277,450 Total ending loans balance $ 49,597 $ 106,064 $ 83,410 $ 22,198 $ 5,610 $ 10,571 $ 277,450
Schedule of aging of recorded investment in past due loans	30-59 Days Past 60-89 Days Past Greater than 90 Days Past Due Total Past Loans Not Past Due Total June 30, 2017 1-4 family residential $ - $ - $ - $ - $ 48,470 $ 48,470 Commercial - - - - 118,980 118,980 Multifamily - - - - 91,977 91,977 Commercial real estate - - - - 21,089 21,089 Construction - - - - 4,332 4,332 Consumer - - - - 21,469 21,469 Total $ - $ - $ - $ - $ 306,317 $ 306,317 30-59 Days Past 60-89 Days Past Greater than 90 Days Past Due Total Past Loans Not Past Due Total December 31, 2016 1-4 family residential $ 203 $ - $ - $ 203 $ 49,394 $ 49,597 Commercial - - - - 106,064 106,064 Multifamily - - - - 83,410 83,410 Commercial real estate - - - - 22,198 22,198 Construction - - - - 5,610 5,610 Consumer - - - - 10,571 10,571 Total $ 203 $ - $ - $ 203 $ 277,247 $ 277,450
Schedule of risk category of loans	Pass Special Mention Substandard Doubtful June 30, 2017 1-4 family residential $ 48,470 $ - $ - $ - Commercial 118,085 895 - - Multifamily 91,977 - - - Commercial real estate 21,089 - - - Construction 4,332 - - - Consumer 21,469 - - - Total $ 305,422 $ 895 $ - $ - Pass Special Mention Substandard Doubtful December 31, 2016 1-4 family residential $ 49,597 $ - $ - $ - Commercial 105,777 287 - - Multifamily 83,410 - - - Commercial real estate 22,198 - - - Construction 5,610 - - - Consumer 10,571 - - - Total $ 277,163 $ 287 $ - $ -

Share-Based Payment Plans (Tabl

Share-Based Payment Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of fair value of options granted determined using following weighted-average assumptions	2016 Risk-Free Interest Rate 1.62 % Expected Term 84 months Expected Stock Price Volatility 23.4 % Dividend Yield 0.00 %
Schedule of activity related to options	Weighted Weighted Average Average Remaining Exercise Contractual Options Price Life (Years) June 30, 2017 Outstanding at beginning of year 1,024,045 $ 12.13 Granted - - Exercised 92,500 10.00 Forfeited 11,000 11.36 Outstanding at period end 920,545 $ 12.35 7.56 Vested or expected to vest 920,545 $ 12.35 7.56 Exercisable at period end 242,315 $ 11.93 4.56

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings per Share
Schedule of earnings per share	Three months ended Six months ended At June 30, At June 30, 2017 2016 2017 2016 Basic Net income available to common shareholders $ 1,027 $ 748 $ 1,842 $ 1,391 Less: Earnings allocated to preferred stock 13 23 24 43 Net income allocated to common shareholders $ 1,014 $ 725 $ 1,818 $ 1,348 Weighted average common shares outstanding 5,075,019 4,915,878 5,039,197 4,913,874 Basic earnings per common share $ 0.20 $ 0.15 $ 0.36 $ 0.27 Diluted Net income allocated to common shareholders for basic earnings per share $ 1,014 $ 725 $ 1,818 $ 1,348 Weighted average shares outstanding for basic earnings per common share 5,075,019 4,915,878 5,039,197 4,913,874 Add: Dilutive effects of assumed exercises of stock options 25,589 30,550 30,202 30,550 Average shares and dilutive potential common shares 5,100,608 4,946,428 5,069,399 4,944,424 Diluted earnings per common share $ 0.20 $ 0.15 $ 0.36 $ 0.27 Stock options not considered in computing diluted earnings per share because they were anti-dilutive 775,425 545,295 779,425 545,295

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurements Using Quoted Prices In Significant Significant (Level 1) (Level 2) (Level 3) June 30, 2017 Assets Available-for-sale securities Mortgage-backed securities - agency $ - $ 15,106 $ - CMO's - agency - $ 82,196 - Total $ - $ 97,302 $ - December 31, 2016 Assets Available-for-sale securities Mortgage-backed securities - agency $ - $ 16,012 $ - CMO's - agency - 76,633 - Total $ - $ 92,645 $ -
Schedule of carrying amounts and fair values of financial instruments	Fair Value Measurement at June 30, 2017, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total Financial Assets: Cash and due from banks $ 543 $ 543 $ - $ - $ 543 Interest earning deposits 39,317 - 39,317 - 39,317 Securities available for sale 97,302 - 97,302 - 97,302 Securities, restricted 1,849 N/A N/A N/A N/A Loans, net of allowance 303,595 - - 304,333 304,333 Accrued interest receivable 1,696 - 214 1,482 1,696 Financial Liabilities: Time deposits 27,640 - 27,563 - 27,563 Demand and other deposits 348,723 348,723 - - 348,723 Secured borrowings 282 - 282 - 282 Accrued interest payable 3 - 3 - 3 Fair Value Measurement at December 31, 2016, Using: Carrying Value (Level 1) (Level 2) (Level 3) Total Financial Assets: Cash and due from banks $ 437 $ 437 $ - $ - $ 437 Interest earning deposits 42,556 - 42,556 - 42,556 Securities available for sale 92,645 - 92,645 - 92,645 Securities, restricted 1,649 N/A N/A N/A N/A Loans, net of allowance 275,165 - - 277,620 277,620 Accrued interest receivable 1,541 - 201 1,340 1,541 Financial Liabilities: Time deposits 23,955 - 23,930 - 23,930 Demand and other deposits 346,833 346,833 - - 346,833 Secured borrowings 371 - 371 - 371 Accrued interest payable 3 - 3 - 3

Accumulated Other Comprehensi22

Accumulated Other Comprehensive (Loss) Income (Tables)	6 Months Ended
	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Schedule of changes in accumulated other comprehensive (loss) income by component, net of tax	Three months ended Six months ended At June 30, At June 30, 2017 2016 2017 2016 Unrealized Gains on Available for Sale Securities Beginning balance $ (779 ) $ 593 $ (884 ) $ (434 ) Other comprehensive income before reclassifications 271 308 376 1,339 Amounts reclassified from accumulated other comprehensive income - - - (4 ) Net current period other comprehensive income 271 308 376 1,335 Ending Balance $ (508 ) $ 901 $ (508 ) $ 901
Schedule of reclassifications out of accumulated other comprehensive loss	Three months ended Six months ended At June 30, At June 30, 2017 2016 2017 2016 Realized gain on securities sales $ - $ - $ - $ 6 Income tax expense - - - (2 ) Total reclassifications, net of tax $ - $ - $ - $ 4

Basis of Presentation (Details

Basis of Presentation (Details Textuals) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Secured borrowings	$ 282	$ 371
Dividend rate of non-voting preferred stock	0.00%
Number of common stock issued for initial public offering ("IPO")	1,800,000
Value of shares issued for initial public offering ("IPO")	$ 21,741

Securities (Details) - Summary

Securities (Details) - Summary of reconciliation of amortized cost to fair value - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 98,128	$ 94,094
Gross Unrealized Gains	188	68
Gross Unrealized Losses	(1,014)	(1,517)
Fair Value	97,302	92,645
Mortgage-backed securities - agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	15,345	16,417
Gross Unrealized Gains	17	12
Gross Unrealized Losses	(256)	(417)
Fair Value	15,106	16,012
Collateralized mortgage obligations (CMO's) - agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	82,783	77,677
Gross Unrealized Gains	171	56
Gross Unrealized Losses	(758)	(1,100)
Fair Value	$ 82,196	$ 76,633

Securities (Details 1) - Summar

Securities (Details 1) - Summary of amortized cost and fair value of debt securities by contractual maturity $ in Thousands	Jun. 30, 2017USD ($)
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 98,128
Fair Value	97,302
Mortgage-backed securities - agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	15,345
Fair Value	15,106
CMO's - agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	82,783
Fair Value	$ 82,196

Securities (Details 2) - Summar

Securities (Details 2) - Summary of proceeds from sales and calls of securities and gains and losses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Proceeds				$ 4,068
Gross gains				6
Gross losses

Securities (Details 3) - Summar

Securities (Details 3) - Summary of securities in unrealized loss position - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value
Less Than 12 Months	$ 58,540	$ 64,205
12 Months or Longer	9,641	5,973
Total	68,181	70,178
Gross Unrealized Losses
Less Than 12 Months	(836)	(1,276)
12 Months or Longer	(178)	(241)
Total	(1,014)	(1,517)
Mortgage-backed securities - agency
Fair Value
Less Than 12 Months	13,209	13,936
12 Months or Longer
Total	13,209	13,936
Gross Unrealized Losses
Less Than 12 Months	(256)	(417)
12 Months or Longer
Total	(256)	(417)
CMO's - agency
Fair Value
Less Than 12 Months	45,331	50,269
12 Months or Longer	9,641	5,973
Total	54,972	56,242
Gross Unrealized Losses
Less Than 12 Months	(580)	(859)
12 Months or Longer	(178)	(241)
Total	$ (758)	$ (1,100)

Securities (Detail Textuals)

Securities (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Tax provision related to realized gain				$ 2
Federal Reserve Bank of New York (FRB)
Schedule of Available-for-sale Securities [Line Items]
Fair value of pledged securities	15,106		15,106		$ 16,012
Securities pledged borrowed amount	14,844		14,844		15,580
Federal Home Loan Bank of New York (FHLB)
Schedule of Available-for-sale Securities [Line Items]
Fair value of pledged securities	82,196		82,196		76,633
Securities pledged borrowed amount	$ 78,132		$ 78,132		$ 72,837

Loans - Summary of loan composi

Loans - Summary of loan composition (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 306,317		$ 277,450
Deferred costs and unearned premiums, net	1,101		1,128
Allowance for loan losses	(3,823)	$ (3,523)	(3,413)	$ (3,100)	$ (2,969)	$ (2,799)
Net loans	$ 303,595		$ 275,165
% of Total	100.00%		100.00%
Real Estate | 1 - 4 Family Residential
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 48,470		$ 49,597
Allowance for loan losses	$ (358)	(350)	$ (360)	(319)	(221)	(213)
% of Total	16.00%		18.00%
Real Estate | Multifamily
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 91,977		$ 83,410
Allowance for loan losses	$ (664)	(669)	$ (621)	(552)	(554)	(533)
% of Total	30.00%		30.00%
Real Estate | Commercial Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 21,089		$ 22,198
Allowance for loan losses	$ (226)	(227)	$ (238)	(218)	(231)	(230)
% of Total	7.00%		8.00%
Real Estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 4,332		$ 5,610
Allowance for loan losses	$ (109)	(102)	$ (141)	(164)	(140)	(134)
% of Total	1.00%		2.00%
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 118,980		$ 106,064
Allowance for loan losses	$ (2,154)	(2,039)	$ (1,934)	(1,735)	(1,622)	(1,536)
% of Total	39.00%		38.00%
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total Loans	$ 21,469		$ 10,571
Allowance for loan losses	$ (312)	$ (136)	$ (119)	$ (112)	$ (201)	$ (153)
% of Total	7.00%		4.00%

Loans - Summary of activity in

Loans - Summary of activity in allowance for loan losses by class (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Allowance for loan losses:
Beginning balance	$ 3,523	$ 2,969	$ 3,413	$ 2,799
Provision (credit) for loan losses	300	130	450	275
Recoveries		1		26
Loans charged-off			(40)
Total ending allowance balance	3,823	3,100	3,823	3,100
Real Estate | 1 - 4 Family Residential
Allowance for loan losses:
Beginning balance	350	221	360	213
Provision (credit) for loan losses	8	98	(2)	106
Recoveries
Loans charged-off
Total ending allowance balance	358	319	358	319
Real Estate | Multifamily
Allowance for loan losses:
Beginning balance	669	554	621	533
Provision (credit) for loan losses	(5)	(2)	43	19
Recoveries
Loans charged-off
Total ending allowance balance	664	552	664	552
Real Estate | Commercial Real Estate
Allowance for loan losses:
Beginning balance	227	231	238	230
Provision (credit) for loan losses	(1)	(13)	(12)	(12)
Recoveries
Loans charged-off
Total ending allowance balance	226	218	226	218
Real Estate | Construction
Allowance for loan losses:
Beginning balance	102	140	141	134
Provision (credit) for loan losses	7	24	(32)	30
Recoveries
Loans charged-off
Total ending allowance balance	109	164	109	164
Commercial
Allowance for loan losses:
Beginning balance	2,039	1,622	1,934	1,536
Provision (credit) for loan losses	115	112	220	173
Recoveries		1		26
Loans charged-off
Total ending allowance balance	2,154	1,735	2,154	1,735
Consumer
Allowance for loan losses:
Beginning balance	136	201	119	153
Provision (credit) for loan losses	176	(89)	233	(41)
Recoveries
Loans charged-off			(40)
Total ending allowance balance	$ 312	$ 112	$ 312	$ 112

Loans - Summary of balance in a

Loans - Summary of balance in allowance for loan losses and recorded investment in loans by class and based on impairment method (Details 2) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Ending allowance balance attributable to loans:
Individually evaluated for impairment
Collectively evaluated for impairment	3,823		3,413
Total ending allowance balance	3,823	$ 3,523	3,413	$ 3,100	$ 2,969	$ 2,799
Loans:
Loans individually evaluated for impairment
Loans collectively evaluated for impairment	306,317		277,450
Total ending loans balance	306,317		277,450
Real Estate | 1 - 4 Family Residential
Ending allowance balance attributable to loans:
Individually evaluated for impairment
Collectively evaluated for impairment	358		360
Total ending allowance balance	358	350	360	319	221	213
Loans:
Loans individually evaluated for impairment
Loans collectively evaluated for impairment	48,470		49,597
Total ending loans balance	48,470		49,597
Real Estate | Multifamily
Ending allowance balance attributable to loans:
Individually evaluated for impairment
Collectively evaluated for impairment	664		621
Total ending allowance balance	664	669	621	552	554	533
Loans:
Loans individually evaluated for impairment
Loans collectively evaluated for impairment	91,977		83,410
Total ending loans balance	91,977		83,410
Real Estate | Commercial Real Estate
Ending allowance balance attributable to loans:
Individually evaluated for impairment
Collectively evaluated for impairment	226		238
Total ending allowance balance	226	227	238	218	231	230
Loans:
Loans individually evaluated for impairment
Loans collectively evaluated for impairment	21,089		22,198
Total ending loans balance	21,089		22,198
Real Estate | Construction
Ending allowance balance attributable to loans:
Individually evaluated for impairment
Collectively evaluated for impairment	109		141
Total ending allowance balance	109	102	141	164	140	134
Loans:
Loans individually evaluated for impairment
Loans collectively evaluated for impairment	4,332		5,610
Total ending loans balance	4,332		5,610
Commercial
Ending allowance balance attributable to loans:
Individually evaluated for impairment
Collectively evaluated for impairment	2,154		1,934
Total ending allowance balance	2,154	2,039	1,934	1,735	1,622	1,536
Loans:
Loans individually evaluated for impairment
Loans collectively evaluated for impairment	118,980		106,064
Total ending loans balance	118,980		106,064
Consumer
Ending allowance balance attributable to loans:
Individually evaluated for impairment
Collectively evaluated for impairment	312		119
Total ending allowance balance	312	$ 136	119	$ 112	$ 201	$ 153
Loans:
Loans individually evaluated for impairment
Loans collectively evaluated for impairment	21,469		10,571
Total ending loans balance	$ 21,469		$ 10,571

Loans - Summary of loans by pas

Loans - Summary of loans by past due status (Details 3) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 203
Loans Not Past Due	306,317	277,247
Total Loans	306,317	277,450
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		203
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | 1 - 4 Family Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		203
Loans Not Past Due	48,470	49,394
Total Loans	48,470	49,597
Real Estate | 1 - 4 Family Residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		203
Real Estate | 1 - 4 Family Residential | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | 1 - 4 Family Residential | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Not Past Due	91,977	83,410
Total Loans	91,977	83,410
Real Estate | Multifamily | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | Multifamily | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | Multifamily | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Not Past Due	21,089	22,198
Total Loans	21,089	22,198
Real Estate | Commercial Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | Commercial Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | Commercial Real Estate | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Loans Not Past Due	4,332	5,610
Total Loans	4,332	5,610
Real Estate | Construction | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | Construction | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Real Estate | Construction | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Not Past Due	118,980	106,064
Total Loans	118,980	106,064
Commercial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Commercial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Commercial | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans Not Past Due	21,469	10,571
Total Loans	21,469	10,571
Consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Consumer | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due

Loans - Summary of loans by cre

Loans - Summary of loans by credit quality indicator based on internally assigned credit grade (Details 4) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$ 306,317	$ 277,450
Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	305,422	277,163
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	895	287
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | 1 - 4 Family Residential
Financing Receivable, Recorded Investment [Line Items]
Total Loans	48,470	49,597
Real Estate | 1 - 4 Family Residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	48,470	49,597
Real Estate | 1 - 4 Family Residential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | 1 - 4 Family Residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | 1 - 4 Family Residential | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Total Loans	91,977	83,410
Real Estate | Multifamily | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	91,977	83,410
Real Estate | Multifamily | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | Multifamily | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | Multifamily | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | Commercial Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total Loans	21,089	22,198
Real Estate | Commercial Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	21,089	22,198
Real Estate | Commercial Real Estate | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | Commercial Real Estate | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,332	5,610
Real Estate | Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	4,332	5,610
Real Estate | Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | Construction | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Real Estate | Construction | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total Loans	118,980	106,064
Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	118,085	105,777
Commercial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans	895	287
Commercial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Commercial | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total Loans	21,469	10,571
Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total Loans	21,469	10,571
Consumer | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total Loans
Consumer | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total Loans

Share-Based Payment Plans (Deta

Share-Based Payment Plans (Details)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-Free Interest Rate	1.62%
Expected Term	84 months
Expected Stock Price Volatility	23.40%
Dividend Yield	0.00%

Share-Based Payment Plans - Sum

Share-Based Payment Plans - Summary of options activity (Details 1) - Stock Options	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Options
Outstanding at beginning of year | shares	1,024,045
Granted | shares
Exercised | shares	92,500
Forfeited | shares	11,000
Outstanding at period end | shares	920,545
Vested or expected to vest | shares	920,545
Exercisable at period end | shares	242,315
Weighted Average Exercise Price
Outstanding at beginning of year | $ / shares	$ 12.13
Granted | $ / shares
Exercised | $ / shares	10
Forfeited | $ / shares	11.36
Outstanding at period end | $ / shares	12.35
Vested or expected to vest | $ / shares	12.35
Exercisable at period end | $ / shares	$ 11.93
Weighted Average Remaining Contractual Life (Years), outstanding at period end	7 years 6 months 22 days
Weighted Average Remaining Contractual Life (Years), vested or expected to vest	7 years 6 months 22 days
Weighted Average Remaining Contractual Life (Years), exercisable at period end	4 years 6 months 22 days

Share-Based Payment Plans (De36

Share-Based Payment Plans (Detail Textuals) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 26, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of vesting period for options				five annual installments
Vesting percentage of options				20.00%
Contractual term of stock options				10 years
Stock options expense		$ 151	$ 76	$ 288	$ 152
Unrecognized compensation cost related to non-vested options		1,876		$ 1,876
Recognition period of nonvested stock options				3 years 6 months 29 days
Intrinsic value of outstanding options		2,348		$ 2,348
Itrinsic value of exercisable options		744		744
Tax benefit related to stock option exercises		$ 106		$ 106
2011 Stock Compensation Plan ("the 2011 Plan")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of maximum shares of common stock to be issued		404,607		404,607
Number of additional common stock authorized to issuance	350,000
Number of shares to be issued				754,607
Common stock shares issued				750,545
2007 Stock Option Plan ("the 2007 Plan")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of maximum shares of common stock to be issued		270,000		270,000

Earnings per Share - Summary of

Earnings per Share - Summary of earnings per share computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Basic
Net income available to common shareholders	$ 1,027	$ 748	$ 1,842	$ 1,391
Less: Earnings allocated to preferred stock	13	23	24	43
Net income allocated to common shareholders	$ 1,014	$ 725	$ 1,818	$ 1,348
Weighted average common shares outstanding	5,075,019	4,915,878	5,039,197	4,913,874
Basic earnings per common share	$ 0.20	$ 0.15	$ 0.36	$ 0.27
Diluted
Net income allocated to common shareholders for basic earnings per share	$ 1,014	$ 725	$ 1,818	$ 1,348
Weighted average shares outstanding for basic earnings per common share	5,075,019	4,915,878	5,039,197	4,913,874
Add: Dilutive effects of assumed exercises of stock options	25,589	30,550	30,202	30,550
Average shares and dilutive potential common shares	5,100,608	4,946,428	5,069,399	4,944,424
Diluted earnings per common share	$ 0.20	$ 0.15	$ 0.36	$ 0.27
Stock options not considered in computing diluted earnings per share because they were anti-dilutive	775,425	545,295	779,425	545,295

Fair Value Measurements - Summa

Fair Value Measurements - Summary of assets and liabilities measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Available-for-sale securities
Securities available-for-sale, at fair value	$ 97,302	$ 92,645
Fair Value
Available-for-sale securities
Securities available-for-sale, at fair value	97,302	92,645
Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1)
Available-for-sale securities
Securities available-for-sale, at fair value
Fair Value | Significant Other Observable Inputs (Level 2)
Available-for-sale securities
Securities available-for-sale, at fair value	97,302	92,645
Fair Value | Significant Unobservable Inputs (Level 3)
Available-for-sale securities
Securities available-for-sale, at fair value
Recurring | Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1)
Available-for-sale securities
Securities available-for-sale, at fair value
Recurring | Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value
Recurring | Fair Value | Quoted Prices In Active Markets For Identical Assets (Level 1) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value
Recurring | Fair Value | Significant Other Observable Inputs (Level 2)
Available-for-sale securities
Securities available-for-sale, at fair value	97,302	92,645
Recurring | Fair Value | Significant Other Observable Inputs (Level 2) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value	15,106	16,012
Recurring | Fair Value | Significant Other Observable Inputs (Level 2) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value	82,196	76,633
Recurring | Fair Value | Significant Unobservable Inputs (Level 3)
Available-for-sale securities
Securities available-for-sale, at fair value
Recurring | Fair Value | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities - agency
Available-for-sale securities
Securities available-for-sale, at fair value
Recurring | Fair Value | Significant Unobservable Inputs (Level 3) | CMO's - agency
Available-for-sale securities
Securities available-for-sale, at fair value

Fair Value Measurements - Sum39

Fair Value Measurements - Summary of estimated fair values of financial instruments (Details 1) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Financial Assets:
Cash and due from banks	$ 543	$ 437
Interest earning deposits	39,317	42,556
Securities available for sale	97,302	92,645
Securities, restricted	1,849	1,649
Loans, net of allowance	303,595	275,165
Accrued interest receivable	1,696	1,541
Financial Liabilities:
Time deposits	27,640	23,955
Secured borrowings	282	371
Carrying Value
Financial Assets:
Cash and due from banks	543	437
Interest earning deposits	39,317	42,556
Securities available for sale	97,302	92,645
Securities, restricted	1,849	1,649
Loans, net of allowance	303,595	275,165
Accrued interest receivable	1,696	1,541
Financial Liabilities:
Time deposits	27,640	23,955
Demand and other deposits	348,723	346,833
Secured borrowings	282	371
Accrued interest payable	3	3
Fair Value
Financial Assets:
Cash and due from banks	543	437
Interest earning deposits	39,317	42,556
Securities available for sale	97,302	92,645
Securities, restricted
Loans, net of allowance	304,333	277,620
Accrued interest receivable	1,696	1,541
Financial Liabilities:
Time deposits	27,563	23,930
Demand and other deposits	348,723	346,833
Secured borrowings	282	371
Accrued interest payable	3	3
Fair Value | (Level 1)
Financial Assets:
Cash and due from banks	543	437
Interest earning deposits
Securities available for sale
Securities, restricted
Loans, net of allowance
Accrued interest receivable
Financial Liabilities:
Time deposits
Demand and other deposits	348,723	346,833
Secured borrowings
Accrued interest payable
Fair Value | (Level 2)
Financial Assets:
Cash and due from banks
Interest earning deposits	39,317	42,556
Securities available for sale	97,302	92,645
Securities, restricted
Loans, net of allowance
Accrued interest receivable	214	201
Financial Liabilities:
Time deposits	27,563	23,930
Demand and other deposits
Secured borrowings	282	371
Accrued interest payable	3	3
Fair Value | (Level 3)
Financial Assets:
Cash and due from banks
Interest earning deposits
Securities available for sale
Securities, restricted
Loans, net of allowance	304,333	277,620
Accrued interest receivable	1,482	1,340
Financial Liabilities:
Time deposits
Demand and other deposits
Secured borrowings
Accrued interest payable

Accumulated Other Comprehensi40

Accumulated Other Comprehensive (Loss) Income - Summary of changes in accumulated other comprehensive (loss) income by component, net of tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Unrealized Gains on Available for Sale Securities
Beginning balance	$ (779)	$ 593	$ (884)	$ (434)
Other comprehensive income before reclassifications	271	308	376	1,339
Amounts reclassified from accumulated other comprehensive income				(4)
Net current period other comprehensive income	271	308	376	1,335
Ending Balance	$ (508)	$ 901	$ (508)	$ 901

Accumulated Other Comprehensi41

Accumulated Other Comprehensive (Loss) Income - Summary of reclassifications out of accumulated other comprehensive loss (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Realized gain on securities sales				$ 6
Income tax expense				(2)
Total reclassifications, net of tax				$ 4

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended
	Jul. 20, 2017	Jun. 30, 2017	Jul. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Number of common stock issued for initial public offering ("IPO")		1,800,000
Proceeds from issuance IPO after deducting the underwriting discount and estimated offering expenses with the overallotment option		$ 21,741
Preferred stock, shares outstanding (non-voting)		66,985		66,985
Subsequent Events
Subsequent Event [Line Items]
Number of common stock issued for initial public offering ("IPO")	354,580
Public offering price per share	$ 14
Proceeds from issuance IPO after deducting the underwriting discount and estimated offering expenses with the overallotment option	$ 4,600
Aggregate net proceeds from IPO, including the overallotment shares, after deducting the underwriting discount and estimated offering expenses	$ 26,300
Preferred stock, shares outstanding (non-voting)			66,985
Preferred shareholder exchange for Series B Non-Voting Preferred Shares			66,985